Waterfront Wealth Inc. Lowers Position in Kyndryl Holdings, Inc. (NYSE:KD)

Waterfront Wealth Inc. lessened its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 76.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,915 shares of the company's stock after selling 41,615 shares during the period. Waterfront Wealth Inc.'s holdings in Kyndryl were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Kyndryl by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company's stock worth $964,434,000 after buying an additional 79,575 shares in the last quarter. FMR LLC raised its position in shares of Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company's stock worth $429,332,000 after buying an additional 6,371,541 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock worth $127,434,000 after buying an additional 2,033,549 shares in the last quarter. GMT Capital Corp raised its position in shares of Kyndryl by 16.4% in the fourth quarter. GMT Capital Corp now owns 2,973,560 shares of the company's stock worth $102,885,000 after buying an additional 418,900 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Kyndryl by 39.9% in the fourth quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock worth $81,177,000 after buying an additional 669,097 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Stock Down 0.8%

Shares of NYSE:KD opened at $41.47 on Friday. The stock's 50-day moving average price is $37.78 and its 200-day moving average price is $36.50. Kyndryl Holdings, Inc. has a 12-month low of $21.34 and a 12-month high of $43.61. The stock has a market capitalization of $9.60 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 0.93 and a beta of 1.95. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29.

Kyndryl (NYSE:KD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same period last year, the firm earned ($0.01) earnings per share. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KD shares. Wall Street Zen upgraded Kyndryl from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Oppenheimer raised their price target on Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, Susquehanna lowered their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd.

Insider Activity

In related news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value of $1,035,292.14. Following the sale, the senior vice president now directly owns 73,278 shares of the company's stock, valued at $2,868,100.92. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company's stock.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

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